International: No Haven

Lauchlin Currie, the President's economic blitzman, got much more out of Switzerland than the first accounts indicated when he completed his mission to Berne last fortnight (TIME, March 19). In addition to cutting their war trade with Germany, the Swiss:

¶ Revoked the banking-secrecy act which protected Nazi deposits in Switzerland.

¶ Froze all German assets in Switzerland, including those held by Swiss dummies.

¶ Stopped the blackmarket trade in German gold, by which the Nazis put their capital in Swiss francs.

In Switzerland alone, the Nazis thus lost a huge gob of capital and hidden assets which might otherwise have been used to...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!